Shap Flash

President Trump has announced that he is considering increasing the tariff rate percentage from 10 % additional duty to 25% on List 3 items, which is an additional $200 billion worth of goods from China. This would be applied to approximately 6,000 tariff lines from China. A complete list of the products subjected to the tariffs can be found here on the USTR website. The 25% hike would throw a ratchet in the supply chain of many importers that were already bracing for the 10% additional duty, as well as drastically worsen already present trade tensions.

U.S. Trade Representative Robert Lighthizer said in a statement that, “The increase in the possible rate of the additional duty is intended to provide the administration with additional options to encourage China to change its harmful policies and behavior and adopt policies that will lead to fairer markets and prosperity for all of our citizens.”According to U.S. Representative Office, the public comment period on List 3 of Section 301 ends on August 30 after public hearings August 20-23.

The U.S. has already slapped 25 % tariffs on $34 billion of Chinese products effective July 6. The review period List 2, about $16 billion worth of imports, just expired on July 31st so more details are bound to appear in the upcoming days. The third list has scheduled the public hearings for Aug 20-23 while the public comment period has been extended to September 5th.

If your business is negatively impacted by the tariff increase, please contact compliance@shapiro.com to discuss resources available to protect your interests.

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